UPDATE APRIL 11: Clark County says it sold all of the bonds for the public portion of the stadium in just 90 minutes. 43 investors put up a little over $645 million.
The bonds will be repaid through the increased room tax that is expected to generate $750 million over the next 30 years.
ORIGINAL STORY
LAS VEGAS (AP) -- Officials in Clark County have approved the sale of bonds for the construction of the Raiders' stadium in Las Vegas.
RELATED: Las Vegas Stadium Authority signs Raiders lease
Clark County commissioners voted 6-1 Tuesday in favor of the ordinance authorizing the sale of $750 million in general obligation revenue bonds.
The Raiders want to start 2020 season at the $1.8 billion, 65,000-seat stadium being built across the freeway from the Las Vegas Strip. The team has agreed to a 30-year lease.
Guests of hotels in the Las Vegas area are paying a room tax that over time will contribute $750 million for the project. The bonds allow for the financing of the public's share.
The NFL and the team, which has secured a bank loan, are covering the remainder of the project.
